SURIN offer will be tabled to Board for approval (Surin & related parties abstained for voting). If they approved this shit, notice of at least 21 days required to conduct EGM for shareholder voting. If this shit approve by minority shareholder , need to submit application to high court for SCR. I think fast also need 3-6 months.
YTD , only 2% of shares changed hand which drove the stock price from 1.05 to 1.63. This definitely not the alternative to privatize the company through open market purchase as minority shareholders is holding tight with their shares. By announcing privatisation at 1.70 , Surin might hope that he can cap the price and minority shareholders will sell off below 1.70. The transaction volumes yesterday afternoon after the announcement and today sent a very clear signal to him that we will not dispose our shares at this price.
We have a couple of millions of shares in hand and we decided not to sell at open market and will vote against the resolution during EGM unless the offer price revise to min RM2
Although our holding represented a small fraction of the 702MM oustanding shares but we hope we can joint force with other minority shareholders to sense a clear signal to Surin that we are trying our best to go against the unfair offer price.
We just do whatever we can for a better price. I wish Surin will revise the price to 2 and above and with happy ending at EGM. Then we can move on to other counters
@YouWin I will put my bet on those stock counters with land in Pasir Gudang area. Betting that East of Johor will be connected to Singapore through another RTS. Singapore didn't like bridge as more cars will enter Singapore. RTS only transporting people.
My group own about 21 mil shares . With your couple of million shares , we may just need 10+ million shares from others to frustrate guy ! We will have enough support!
I think all of us have no objections to the privatization if the price is palatable. Afterall, there is so much on the plate to share ! No respect for that S guy at all. He is already one of the richest man in Malaysia and yet trying to take poor minority for a ride ! ————————
Opportunate wrote: We have a couple of millions of shares in hand and we decided not to sell at open market and will vote against the resolution during EGM unless the offer price revise to min RM2
latest BS 31/3/2024, The cash+ near cash assets in the company are as below ; 1. Investment securities (non current) $47.7m 2. Investment securities (current) $591.4m 3. Net receivable (after payables)$94.9m 4.cash in bank $66.3m Total 1+2+3+4 =$778.7m
Total disinterested shares 399,670,907 . At $1.70 , the payout is $679.4m only !
The balance after SRC payout is $778.7 m - $679.4m=$99.3 m.
The lands in Pegerang, KL, sgor and Penang worths $billion .
I kind of confuse with the 10%. If I not mistaken , I read somewhere that need 10% of total shares , which means 70.2MM instead of 40+MM to turn down the proposal
I kind of unhappy with the way Surin table his privatisation EXCUSE. He was the one running the company. The company was poorly manage and the stock price was under performing and now he uses this as an excuse to take the company private at low price , avoiding the NA of the company at 2.40 which yet to factor in the revaluation.
MPHBCAP not my major holding so far. Won't be investing in any counter related to Surin in the future. My investment focus more on technology stocks. The company majorshareholders someone I knew in person , very humble and responsible person. One in top 50 richest list in Malaysia. Another one on the rise with new factory expansion. I have high hope on them due to their personality
So far , Nylex is working on LRT at JB area together with BTS , Ancom Nylex and LBS. No latest development so far. Johor Transport Master Plan BRT until Tebrau area ( phase 1) Phase 2 extended to Pasir Gudang and surrounding area in 2035. Pengerang even further from JB. The only option to boost Eastern Part of Johor is building another RTS connecting Pasir Gudang to Tanah Merah MRT Station in Singapore
If Johor government.decided to build RTS connecting Pasir Gudang to Singapore , the land price in Pasir Gudang will skyrocket as connectivity will significantly improve. Tanah Merah to Changi Airport only 1 MRT Station. JB to Senai Airport by road about 1hr. Worth to bet on company with land in Pasir Gudang. Pengerang about 20km from Pasir Gudang , spill over effect not as much. Residential land price in Pasir Gudang around 30 psft
Hi Opportunate , would appreciate if you are kind to share the 2 technology counters you mentioned. ————— Opportune wrote : Mphb not my major holding so far. Won't be investing in any counter related to Surin in the future. My investment focus more on technology stocks. The company majorshareholders someone I knew in person , very humble and responsible person. One in top 50 richest list in Malaysia. Another one on the rise with new factory expansion. I have high hope on them due to their personality
Received a reply from Minority Shareholder Watch Group, they recommended us to wait as Board has not announced their decision (deadline 27 June 2024). Thereafter shall wait for IAC advice and recommendations if price is fair.
Many focus on Oil and Gas. If state governmenttake over the land , the price will most likely 10 to 12 psft.
Less focus was on green energy. Due to carbon footprint requirement from EU , Singapore need huge amount of green energy. Pengerang very strategically located to supply green energy such as solar to Singapore.
Pengerang land size of 1600+ acres very suitable for 500MW solar farm.
If MPHBCAP engage in solar farm project , as compare to outright sales of the land , this will be a better option by generating constant cash flow and profit to the company. Valuation for the stock will be better.
I'm observing the SCR has something to do with this.
Under LSS5 , 1st time in the history , 500MW solar farm open for bidding.
Form available to purchased in May , submit of form in July.
@johnzhang,I am a new comer to this i3investor,very interesting to read you guys comment and analysis on this counter mphb (especially johnzhang comments),I can gather 1 million MPHB shares incase i am needed to vote against Surin offer of 1.70,please notify me if my offer is required in due course
@ajkeat, yes , any number of minority and their share holdings is important to join force in order to get a fairer deal . As the day go by ,more minorities will join our mission. I am , like Kaya Toast, is in talking to MSWG on our plight and requesting MSWG to champion our course. Will update all when something develops…
@ the contrarian,maybe you can provide me with your whatsapp contact or any other contact,i shall communicate with you,sorry that i wouldnt want to list my number in this forum for privacy purpose.I tend to like the view of Johnzhang who is analytical and informative.well i actually own 1 million mphb and may be able to gather another 3 to 5 hundred thousands from friends around me.besides,i agreed with opportunate that we collect the 3 cts dividend before further action,i also believe bursa or sc will not approve the privatise price of 1.70 so easily as the NTA shown with bursa record is 2.40 where they have not revise for so many many yrs,afterall everybody agreed land price already inflate so much especially in Pengarang.well lets be patience to wait for a while since most of us already waited more than 2 years
You ppl are unlikely to succeed(although as a shareholder, I would love if you did): this Thai-born fella privatized MWE for a significant discount not too long ago & let's not forget the '19 MAA debacle where despite new shareholders buying large blocks & successfully blocking the privatization, they ultimately LOST BIG because it plunged way below their cost of $1-1.05 & the major shareholder there vindictively cancelled all future dividends, depriving them of compensation for their paper losses till now & compounded their pain by gambling recklessly with their money in junk stocks like KNM!
Those who bought in 2014 months after the IPO are losing $ on this offer. And btw MWSG doesn't give a rat's f@rt about you minorities: I found that out after Genting's criminal involvment in Catskills in 2019.
@domleilee,this is a different issue compare with MAA,a loss making and with some problem going on thoes day,unlike mphb, cash rich and high valuation of landed asset.besides, surin is catching up with age,you and me can wait,maybe. Surin,if he continue to hold on and delay the privatisation plan, he may not enjoy and reap the fruitful returns from MPHB.Those day,MWE may not be able to compare with mphb,again,asset backing and highcash reserve plus brighter future prospect on development of johore,singapore economic zone. as for mwe,during privatisation, there is nothing much to shout about,well, i may be wrong,its just my personal opinion.if you see the trend of mphb on the last few weeks transaction,you may observe that someone is slowly accumaulating this counter.
ajkeat is right not to expose personal contact details in public forum. That’s the reason some of us working now to rope in MSWG , to be the facilitator in furthering our fight for improved SCR price . Some may have reservation if we will succeed, but it is unwise to be defeated without even putting up a fight. That’s how minorities have been taken for an easy ride all these years .
I certainly share ajkeat’s view that MpHB is not MAA. We must shake off MAA ghost or any other ghost to haunt us throughout our investing life . There are success stories out there where minorities get improved deal after putting up a fight .
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Posted by Fabien _the efficient capital allocator > 2 months ago | Report Abuse
It's not the first time Tan Sri Surin takes company private. Check back MWE, another asset rich company who own stakes in WCE.